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In its ruling, the supreme court said that MERS was not a “contingently necessary party.” It added since Sovereign Bank didn’t register its interest with the county’s register of deeds, it had no rights in the foreclosure preceding.
In response to the ruling, MERS president and CEO RK Arnold said the firm was disappointed, but respected the court’s decision, and said it is considering its options, including filing a motion for reconsideration.
MERS has defended its operations in court.
